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Las Vegas casinos to begin accepting bitcoin

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January 22, 2014

Las Vegas casinos to begin accepting bitcoin

Hospitality News: Las Vegas, NV - April 16: Luxury hotel Cosmopolitan on April 16, 2011 in Las Vegas, USA. The Cosmopolitan is a luxury resort located on the Las Vegas Strip opened on December 15, 2010
Las Vegas, NV - April 16: Luxury hotel Cosmopolitan on April 16, 2011 in Las Vegas, USA. The Cosmopolitan is a luxury resort located on the Las Vegas Strip opened on December 15, 2010

Two casinos in downtown Las Vegas, Nevada will become the first establishments of their kind to accept bitcoin as currency.

Effective Wednesday, customers of both The D and the Golden Gate casinos on Sin City?s famed Freemont Street will be able to spend bitcoins to buy goods and services.

Neither facility will accept bets being made with the emerging digital ‘cryptocurrency’ in lieu of fiat money, but will allow visitors to conduct transactions using bitcoin at certain casino-run businesses on site. The front desks at both the Golden Gate and The D hotels will accept bitcoin, as will select gift shops and eateries inside the buildings, totaling five in all.

Vegas proprietor Derek Stevens, a co-owner of both casinos, said he considered bringing bitcoin into the gaming business after the issue was brought up by a number of customers recently.

“I’m proud that the D and Golden Gate will be the first casino properties to accept bitcoin,”?Stevens said in a statement.?“We’re located in the growing high-tech sector of downtown Las Vegas, and like all things downtown, we’re quickly adaptive to new technology. The timing is right for us to launch this initiative, and I’m happy to be able to offer this to our customers.”

Stevens added that the establishments will rely on the popular BitPay service to process transactions using tablets and other mobile devices installed at each cashier station. Six percent of all bitcoin transactions in the world were being processed through BitPay as of November, and the system is currently being used by internet businesses in more than 200 countries.

Bitcoin itself has been around for almost five years, but has recently surged in popularity. Both the online retailer Overstock.com and Sacramento, California?s professional basketball team,?the Kings, said they would start accepting bitcoin earlier this month. The online-only cash alternative can also be used to pay for?college tuition?or, in at least one case, the?salary?for a town?s chief of police.

And it could be just a coincidence, but other casinos across the pond are considering following Stevens? lead.

Click here to read more.

Source RT, http://rt.com/usa/las-vegas-casino-bitcoin-974/

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